Skip to content Skip to Search
Skip navigation

Turkish operator to invest in Saudi airport expansion

By Pramod Kumar
Terminal, Architecture, Building Madinah Airport/X
Prince Mohammad Bin Abdulaziz International Airport served 9.4 million passengers in 2023

Turkish airport operator TAV Airports will invest $71.5 million as part of the $275 million expansion plan for Prince Mohammad bin Abdulaziz International Airport, better known as Madinah Airport, in Saudi Arabia, according to a media report.

The new investment will increase Madinah Airport’s passenger handling capacity to 18 million annually from the existing eight million per year, Daily Sabah, a Turkish news outlet, reported, citing a statement published on the state’s public disclosure platform. 

TAV Airports owns a 26 percent stake in Tibah Development, a joint venture with Saudi Arabia’s Al-Rajhi Holding Company that manages Madinah Airport.

Person, Electronics, Mobile Phone

Newsletter
Get the Best of AGBI delivered straight to your inbox every week

The total investment will be made in two stages: building a new 40,000 sq m domestic terminal and redeveloping the existing terminal to increase passenger capacity.

The expansion will start in the first half of 2024 with completion planned in 2027.

TAV Airports CEO Serkan Kaptan said the company has operated Madinah Airport, the gateway to the Holy Land, with its partner Al-Rajhi Holding for the last 12 years.

He added that passenger traffic is increasing and the expansion will help accommodate growing demand.

Prince Mohammad Bin Abdulaziz International Airport served 9.4 million passengers in 2023, the newspaper said.

The consortium, comprising TAV Airports, started operating Madinah Airport in 2012, as the first airport privatisation project in Saudi Arabia.

Latest articles

The SPA report highlighted a number of metrics as being on target, including home ownership of 53.7 percent

Third of Vision 2030 projects ‘completed’ government says

One third of 1,064 planned projects have been completed so far under the Vision 2030 economic transformation plan, the Saudi government said in its annual progress report on the reform programme.   The report also said 561 initiatives were on track, according to the state-owned Saudi Press Agency, publishing its major findings. It was not […]

Tawfik Alzaidi

Saudi director’s labour of love takes the kingdom to Cannes

For the first time a Saudi film has been selected to compete in the Cannes film festival, catapulting its little-known self-taught director into the limelight. Tawfik Alzaidi was so surprised that he’d managed to break through to the big time that he kept the news that his film Norah had been accepted for the ‘Un […]

Migrants attempting to reach Italy from Tunisia. About 270,000 so-called irregular migrants arrived in the EU via sea crossings last year

EU reveals total aid to North Africa to combat migration 

The European Union provided €673 million ($718 million) in funding to four North African countries from 2021-23 to help the quartet reduce what it calls irregular migration to the 27-member bloc, official data shows. Last year about 270,000 “irregular migrants” arrived in the EU via sea crossings, 64 percent more than in 2022. Crossings from […]

Traffic on Fourth Street, Abu Dhabi. The Yahsat and Bayanat merger could help bring self-driving cars to the emirate

UAE merger creates world’s most valuable listed space company

The world’s most valuable publicly listed space company has been created after shareholders of analytics provider Bayanat and “satellite solutions” company Al Yah Satellite Communications Company (Yahsat) agreed to a merger. The deal will help to further Abu Dhabi’s ambitions to be at the centre of the drive towards autonomous vehicles. The newly created Space42 […]